Wells Fargo & Company Increases Rockwell Automation (NYSE:ROK) Price Target to $355.00

Key Points

• Wells Fargo & Company has raised its price target for Rockwell Automation from $345.00 to $355.00, indicating a potential upside of 1.90% from the previous close.
• The company has received various ratings from different analysts, with a consensus rating of "Moderate Buy" and a target price of $340.68.
• Insider trading activity includes significant share sales by senior executives, with over 31,922 shares sold in the last quarter, reflecting a 0.68% insider ownership of the company.

Rockwell Automation (NYSE:ROK - Get Free Report) had its price objective raised by analysts at Wells Fargo & Company from $345.00 to $355.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's target price indicates a potential upside of 1.90% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of Rockwell Automation in a research report on Saturday, September 27th. CICC Research assumed coverage on Rockwell Automation in a report on Monday, July 7th. They set an "outperform" rating and a $381.00 target price for the company. Citigroup reiterated a "buy" rating and issued a $392.00 price target (up from $371.00) on shares of Rockwell Automation in a report on Monday, July 14th. Wall Street Zen upgraded Rockwell Automation from a "hold" rating to a "buy" rating in a research note on Sunday, September 21st. Finally, Bank of America raised Rockwell Automation from a "neutral" rating to a "buy" rating and raised their price objective for the company from $360.00 to $410.00 in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $340.68.

Rockwell Automation Trading Down 0.3%

Shares of NYSE:ROK traded down $1.00 during trading on Monday, reaching $348.40. 26,994 shares of the company were exchanged, compared to its average volume of 914,378. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.06 and a quick ratio of 0.72. The firm has a market capitalization of $39.17 billion, a PE ratio of 40.98, a P/E/G ratio of 3.10 and a beta of 1.41. The business's fifty day simple moving average is $344.60 and its 200-day simple moving average is $312.39. Rockwell Automation has a 12-month low of $215.00 and a 12-month high of $360.92.

Rockwell Automation (NYSE:ROK - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The industrial products company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.67 by $0.15. Rockwell Automation had a return on equity of 30.14% and a net margin of 12.03%.The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $2.71 EPS. Rockwell Automation's quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Rockwell Automation will post 9.35 EPS for the current year.

Insider Buying and Selling at Rockwell Automation

In related news, SVP Cyril Perducat sold 1,435 shares of Rockwell Automation stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the completion of the transaction, the senior vice president directly owned 3,787 shares in the company, valued at approximately $1,318,178.96. This trade represents a 27.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Isaac Woods sold 250 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $350.00, for a total value of $87,500.00. Following the completion of the sale, the vice president owned 1,662 shares in the company, valued at approximately $581,700. This represents a 13.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROK. Capital Investment Advisors LLC grew its position in shares of Rockwell Automation by 5.7% during the 2nd quarter. Capital Investment Advisors LLC now owns 2,192 shares of the industrial products company's stock valued at $728,000 after acquiring an additional 119 shares during the period. Fifth Third Bancorp boosted its position in Rockwell Automation by 8.5% during the first quarter. Fifth Third Bancorp now owns 5,424 shares of the industrial products company's stock worth $1,401,000 after purchasing an additional 423 shares in the last quarter. CWM LLC grew its holdings in Rockwell Automation by 3.7% in the first quarter. CWM LLC now owns 2,353 shares of the industrial products company's stock valued at $608,000 after purchasing an additional 84 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Rockwell Automation by 0.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company's stock valued at $1,462,000 after buying an additional 43 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of Rockwell Automation during the 4th quarter worth approximately $281,000. Hedge funds and other institutional investors own 75.75% of the company's stock.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.

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